The Achilles antimony-gold mine in Australia has significant potential

According to a report from MiningNews.net, Andre Booyzen, the new manager of Trigg Minerals, has only been in his role for a few weeks, but he already anticipates significant potential at the company's Buffalo River antimony-gold mine, which is already Australia's highest-grade antimony ore deposit.

On May 8, Booyzen stated that based on Trigg's internal models and drilling plans, barring any unforeseen circumstances, the mine's resources are expected to increase to at least 100,000 mt.

Currently, the mine holds 29,000 mt of antimony resources with a grade of 1.97%.

Booyzen has served as a consultant to Trigg for several months, having previously worked at Mandalay Resources, which is currently Australia's only antimony producer.

This background positions Booyzen as one of the few mining executives in Australia with experience in antimony ore mining.

Trigg initially focused on potash but is now concentrating entirely on antimony ore, aiming to partner with Larvotto Resources to become a new developer of "the rarest critical minerals."

Recently, the international antimony market has experienced volatility, with antimony prices surging above $60,000/mt.

Versatile Applications

Booyzen noted that antimony has versatile applications, "closely tied to our daily lives," with its key use being as a conflict metal in artillery and ammunition.

Russia's military operations in Ukraine consumed 12,000 mt of antimony, while Israel's war in Gaza consumed approximately 2,000 mt.

This represents a substantial volume over the past three years, considering the global annual market capacity is only 70,000 mt, with a market share of around $3 billion in 2024.

Geopolitical instability has compelled governments worldwide to strengthen their weapon reserves, but antimony is not solely used in military equipment. In fact, antimony for weapons accounts for only about 9.4% of total demand.

A significant growth market is solar panels, with an average annual growth rate of approximately 10%.

Overall, according to estimates by the International Antimony Association (IAA), of which Trigg is a member, the annual consumption growth rate of antimony is approximately 6%.

Trigg's initial focus is on bringing the Buffalo River deposit into production. The next resource update will not only expand the scale and significantly reduce the cut-off grade (currently set at 1%, which Booyzen noted is well above the economically viable grade) but will also consider gold and tungsten as co-products.

The proposed drilling will also validate the potential of the underlying gold ore system.

The Buffalo River deposit extends 300 meters at the surface and remains uncontrolled below 350 meters along the dip.

Recent sampling and analysis of the existing 1960s-era horizontal adits at Bison Creek have revealed an average antimony grade of 4.83%, confirming the significant scale of shallow antimony mineralization. However, this portion of resources was not included in Terrig's resource estimate but was included in the resource estimate by the previous owner, Anchor Resources.

The Roula vein, which runs parallel to the main Bison Creek vein, has not had its resources estimated due to a lack of drilling. Despite being only 35 meters apart, sample analysis indicates that the Roula vein is thin but high-grade, with a 2-meter intersection of 14.45% antimony and 0.84% tungsten, including a 1-meter section of 27.6% antimony mineralization.

If we refer to the final feasibility study results of Ravenswood's Hillgrove project, gold and tungsten will reduce operating costs.

Delineating commercial resources based on current prices would not take much time, and with the New South Wales government's newly introduced A$250 million deferred royalty scheme, there would be no policy obstacles to development.

The mineralization at Bison Creek is very extensive, making it suitable for large-scale mining.

Building an Asset Portfolio

The Bison Creek deposit is part of the Achilles project, which extends 6 kilometers along the Bielsdown. Based on the distribution of known historical mining sites along this mineralized belt, Boyce believes that deposits similar to Bison Creek can be discovered.

Terrig's antimony exploration area now covers 2,100 square kilometers, with recent additions including the Nundle, Upper Hunter, Bukkulla, and Cobark/Copeland projects. These areas are home to five historical antimony mines and 60 gold mining sites. Sample analysis has revealed antimony grades as high as 61% and gold grades of 1,045 g/t.